<a href="https://optimisus.com/news/crypto-news/ripple-ceo-brad-garlinghouse-accuses-the-sec-of-defying-court-rulings-on-xrp/" rel="noopener noreferrer nofollow">Ripple CEO Brad Garlinghouse</a> said that New York State regulators have approved the company’s first stablecoin, RLUSD. This is an important step as Ripple joins the stablecoin market.The New York State Department of Financial Services (NYSDFS) gave this certification to Ripple. This lets <a href="https://optimisus.com/news/crypto-news/ripple-co-founder-chris-larsen-donates-10-million-in-xrp-to-kamala-harriss-campaign/" rel="noopener noreferrer nofollow">Ripple</a> provide a stable digital currency that seeks to lower the volatility linked to its main asset, XRP. This initiative fits with Ripple&#39;s plan to work within New York&#39;s strict regulations, which involve getting a special trust charter and a BitLicense to offer digital asset services.Ripple has received approval, placing it next to other regulated stablecoin providers such as Paxos and Gemini. Industry leaders, including Keith Grossman from MoonPay, highlight the significance of well-regulated companies in changing global finance. Garlinghouse said more information about RLUSD’s launch and partnerships will be shared soon.In a recent CBS “60 Minutes” interview, Garlinghouse emphasized the need for clear rules to keep the U.S. in charge of the crypto industry. He warned that unclear regulations might drive the industry to countries with fewer rules.He talked about the political situation, mentioning President-elect Donald Trump’s changing views on Bitcoin and praising bipartisan efforts in Congress, especially the Fit 21 bill, which aims to move some regulatory duties from the SEC to the CFTC.Garlinghouse spoke about the current lawsuit over XRP&#39;s classification, saying he believes XRP is not a security and that the claims against it are not valid. Ripple getting approval for its stablecoin is an important step in its promise to innovate responsibly in the crypto market.

Ripple secures NY approval for RLUSD stablecoin

Optimisus

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